JAKARTA (Yosefardi) – PT AKR Corporindo Tbk (AKRA) grants Rp525 billion loan to its unit PT Usaha Era Pratama Agreement (UEPN), to partially finance ot the construction and development of an integrated port facilities. AKR had raised Rp1.5 trillion from issuing bonds.
Related with the use of the UEPN loan facility, on November 29, 2013, UEPN has signed the loan facility agreement with UEPN’s subsidiary PT Berkah Kawasan Manyar Sejahtera (BKMS) amounting to Rp345 billion.
The loan will be used to support BKMS business activities in establishing and developing the industrial estate facility that is integrated port facility known as the Java Integrated Industrial Port Estate (JIIPE), in Gresik, East Java.
AKRA has also secured loan of Rp3 trillion from banks for funding first phase of JIIPE project which will cost cost Rp7-8 trillion. The construction, joins force with PT Pelabuhan Indonesia III, will take 3 years until 2016. The company allocates capex of US$40-50 million for 2014.
AKRA booked net profit of Rp500.99 billion in first nine months of this year on revenue of Rp16.17 trillion. Its assets totaled Rp14.02 trillion while liability amounted Rp8.64 trillion.